News

MONTVALE, N.J. — A&P will be able to emerge from chapter 11 next year, thanks to an agreement to receive $490 million of debt and equity financing from private investors comprised of The Yucaipa Companies LLC, Mount Kellett Capital Management LP and investment funds managed by Goldman Sachs Asset Management L.P., the company announced Friday. The agreement is subject to approval of the U.S. Bankruptcy Court for the Southern District of New York.

DALLAS — The Army & Air Force Exchange Service announced that it is offering several Black Friday deals for military members and their families.

Among the deals being offered are Sony 55" LCD TVs for just $899, HP Pavilion G6 Notebooks for $279, 50% off regularly priced ladies apparel from Izod, Calvin Klein, Michael Kors and others as well as an Xbox 360 4GB gaming systems with built-in Wi-Fi console for just $99. Additionally, all Coach handbags (both in-store and online at shopmyexchange.com) will be 25%off from 5:00 p.m. to 7:00 p.m.

LOS ANGELES — Food 4 Less and Ralphs Grocery announced that they are inviting customers to help support local food banks and families in need through a special fund-raising campaign that kicks off Nov. 6. In addition, Food 4 Less' Foods Co Division is also collecting donations for food banks in Central and Northern California.

NAPERVILLE, Ill. — OfficeMax Friday announced that Ryan Vero, EVP and chief merchandising officer will be leaving the company effective Dec. 2. The company, which did not specify the reason for Vero's departure, said it has already started its search for a replacement. Michael Lewis, EVP and president of retail, will continue to provide oversight to the marketing and merchandising teams.

Montvale, N.J. -- The Great Atlantic & Pacific Tea Co. said Friday that it has secured a $490 million financing package from Ron Burkle’s Yucaipa Cos., Mount Kellett Capital Management and investment funds managed by Goldman Sachs.

The combination debt and equity financing, which is subject to court approval, will allow the grocer to emerge from Chapter 11 bankruptcy protection early in 2012.

Columbus, Ohio -- Limited Brands, parent to Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, said Thursday it will buy back up to $250 million of its shares.

The new share repurchase program follows the completion of a $500 million share repurchase program. So far this year, Limited has repurchased $1.1 billion worth of its stock.
 

Houston -- Cardtronics announced that its wholly owned subsidiary, Cardtronics Canada acquired Mr. Cash ATM Network, Lethbridge, Alberta.

The acquisition expands Cardtronics’ international presence into Canada. Financial terms of the acquisition were not disclosed.

Columbus, Ohio -- Big Lots reported that U.S. comparable-store sales for the fiscal third quarter ended Oct. 29 rose 1.7%. Total sales for the period rose 6% to $1.1 billion, from $1.04 billion.

Nashville, Tenn. -- Kirkland's Inc. raised its third-quarter earnings outlook Thursday after total revenue rose because of store expansion.

Total revenue rose 4.7% to $97.1 million in the August-to-October period. Same-store sales fell 3.6%.

The home-decor store said it now expects earnings of 3 cents to 5 cents per share, up from its previous prediction of a quarterly loss.

New York City -- A homeless man was charged with murder Thursday for a baseball bat attack on a 74-year-old Lakewood man in a Southern California Walmart, the Associated Press said.

Richard Lawrence Kalfin was charged with murder with a special allegation that he used a deadly weapon. He faces 57 years to life in prison if convicted and remained jailed on more than $1 million bail.